Toyota Motor Company reported that its profits for the first quarter of the 2014 financial year (April through the end of June) rose 94 percent year-over-year to $5.5 billion worldwide, on global revenue of about $63 billion. The company says that gain was based on both the changing Yen exchange rate and stronger U.S. sales.

Within North America, Toyota profits sank about $352 million year-over-year in the first quarter to $832 million. That decline is mostly due to Toyota losing money on interest rate swaps; Toyota North American sales actually increased by 3.8 percent in the first quarter, compared to the first quarter of 2012. Ignoring the interest rate losses, Toyota says North American profits actually rose by about $79 million. Within the U.S. market, Toyota Motor Company sales are up 7.5 percent year-over-year through the first seven months of 2013.

Owing to the strong financial results for this quarter, Toyota has revised its annual profit forecast up by eight percent to $14.8 billion. That would mark Toyota's highest annual profit in six years. The company also boosted its annual sales goal from 9.94 million vehicles to 10.12 million vehicles. Toyota sold 9.75 million vehicles worldwide in 2012.

Despite positive results in most regions, Toyota struggled in Europe and Asia. Quarterly sales in Europe fell 8.5 percent compared to 2012, while in Asia vehicle sales dropped 6.0 percent.Because the value of the yen has fallen against the dollar this year, it is reportedly now more profitable for Toyota to export vehicles from Japan. Last year, the automaker struggled to make money as the highly valued Yen meant Toyota made smaller profits on exported models.

No surprise. When you have Camaros made outside the U.S. and Mustang transmissions made in China, I suspect most people are quite happy Toyota provides manufacturing jobs to thousands of American workers, pays taxes to fund American public schools and roads, builds a state-of-the-art design studio in California, and provides employment to employees of smaller source companies. Hey, if you have T-Mobile or Verizon, you're supporting foreign companies too. Toyota has been a good citizen, as have the other auto manufacturers here.

You go live in Michigan. You poor little thing. Michigan is one of those states that is useless in almost anywhere. The only reason why we still love Michigan I because of where the big 3 is located. I'll stick to california where apple hq is, along with tesla, google, and so much more. Have fun!

@Uncommon Sense@redbloodedxyYou would lose that bet completely - sorry, you might be a Toyota
apologist, but the number of employees in the US by any of the domestic
OEM's far exceeds Toyota's domestic employees - especially so in the
highly important engineering sector; it's not even close.